The City of Gary and Mayor Karen Freeman-Wilson joined Governor Eric Holcomb and U.S. Steel President and CEO, David B. Burritt, in an announcement to launch a $750 million investment at U.S. Steel’s Gary Works.
Burritt announced plans on August 16 in the U.S. Steel Gary Works Offices to make major upgrades at its largest and oldest manufacturing plant located in Gary’s downtown area. Burritt said, “Not only will this significant investment at Gary Works improve the facility’s environmental performance, bolster the company’s competiveness, but the investment will benefit Gary and the local community for years to come.”
Mayor Karen Freeman-Wilson stated, “There is no secret that U. S. Steel’s flagship is located in Gary. We are pleased about this investment in the plant and even more encouraged by a deepened partnership with the company of the city’s origin. This is also consistent with our development plan which builds on our strong manufacturing history and allowing us to diversify commerce in the areas of education and medicine; recreation and gaming; logistics and technology.”
The City of Gary will offer tax increment financing valued at approximately $35 million over 25 years based on the $750 investment that will then be ameliorated through a development agreement in partnership with U. S. Steel to allow the city, the Gary Community Schools, the Gary Public Library and U. S. Steel to share the benefit of the company’s investment. This incentive and economic development financing method, subject to the Gary Common Council’s approval, will help generate immediate tax revenue for the city, create a Community Development Fund to further economic growth, and increase the city’s partnership with U.S. Steel.
“We are extremely excited about the $750 million investment at U.S. Steel along the shoreline in Gary,” said Gary Common Council President Ronald Brewer. “Today’s news couldn’t have come at a better time as we continue to persevere in the progress of our great city. This multi-million dollar investment demonstrates U.S. Steel’s renewed commitment to its workers and to the city of Gary, and we look forward to strengthening this relationship for the betterment of our great community.”
Subject to approval, the Indiana Economic Development Corporation Board of Directors, the IEDC will offer U. S. Steel up to $10 million in conditional tax credits over a 10-year period based on the company’s commitment to maintain jobs. Governor Holcomb said today’s news is a major step forward that will have a lasting positive impact on the city of Gary, the northwest Indiana region and the state of Indiana for years to come. “We look forward to U. S. Steel’s continued success and growth right here in Gary, Indiana.”
Mayor Freeman-Wilson concluded, “While I am excited about this announcement, most important is …What does this mean for the citizens? It means stability at the flagship. It means stability for the workforce. It also means assistance in a tax base in a community that has struggled. But the thing that is most heartening for me is…it also means a renewed partnership with our founding billion dollar corporation.
Mayor Freeman-Wilson thanked U.S. Steel for the leadership, Governor Holcomb and his team for the support, the Gary Common Council and other local officials for embracing the vision and the workers who go in and out of the doors at U.S. Steel that help to make the dreams of Gary residents come true.
State Senators Eddie Melton (D-Gary) offered the following comments after the announcement:
“The City of Gary and U.S. Steel have had a partnership for well over one hundred years. The investment that the company announced today represents a continuation of that partnership for many years to come.
“The announced renovation and expansion of Gary Works will have far reaching benefits, not only for the company, but for the employees, the City of Gary, the Region, and the entire state.”
Located on the south shore of Lake Michigan, Gary Works is U. S. Steel’s largest manufacturing plant and the largest integrated steel mill in North America. Gary Works has been in operation in Northwest Indiana since 1908. Comprised of both steelmaking and finishing facilities, Gary Works has an annual raw steelmaking capability of 7.5 million net tons. The facility provides more than 3,800 full-time jobs and manufactures sheet products, strip mill plate in coils, and tin products.